Business

US Stocks Lower After Setback in Greek Debt Talks

Published

11 years ago

June 12, 2015

People walk past the Bank of Greece headquarters, in central Athens, on Friday, March 6, 2015 . European Central Bank head Mario Draghi said the ECB "stood ready" to once again permit Greek banks to use junk-rated Greek government bonds as collateral to get credit from the ECB. That would happen as soon as the bank assesses that Greece is likely to successfully complete a creditor review of its progress. (AP Photo/Petros Giannakouris)

People walk past the Bank of Greece headquarters, in central Athens, on Friday, March 6, 2015. (AP Photo/Petros Giannakouris)

MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — The U.S. stock market turned lower on Friday as a setback in talks between Greece and its creditors heightened concerns that the country could default on its debts. An unexpected decision by the International Monetary Fund to walk away from talks with Greece spurred the selloff in Europe and America.

KEEPING SCORE: As of 1:17 p.m. Eastern Time, the Standard & Poor’s 500 index was down 14 points, or 0.7 percent, to 2,095. The Dow Jones industrial average dropped 143 points, or 0.8 percent, to 17,896, and the Nasdaq composite lost 28 points, or 0.6 percent, to 5,054.

The losses were modest but broad: All 30 companies in the Dow average and all 10 industries in the S&P 500 traded lower.

WALKOUT: At a summit meeting in Brussels late Thursday, the IMF pulled its negotiators out of talks with Greece, saying there had been no progress and that major differences remained on key issues. Without a deal by the end of the month, Greece faces the prospect of going bankrupt and dropping the euro currency.

UNCERTAINTY: Ninh Chung, head of investment strategy at SVB Asset Management, said that markets are likely to make sudden turns until Greece and its creditors reach a deal. Earlier this week, markets on both sides of the Atlantic rallied on reports of progress in the talks. “There had been optimism over Greece,” Chung said, “and now it seems like we’ve had a complete 180.”

EUROPE: Major indexes in Europe slumped, erasing gains made earlier in the week. Greece’s market fell the most, with the main Athens index down 6 percent. Germany’s DAX sank 1.2 percent, and the CAC-40 in France finished with a loss of 1.4 percent. Britain’s FTSE 100 lost 1 percent.

WINGSTOP POP: Back in the U.S., shares of Wingstop vaulted 56 percent in their first day of trading as a public company. The chicken-wings chain raised $110.2 million in its initial public offering late Thursday, selling shares to investors at $19 each. In early afternoon trading, Wingstop rose $10.84 to $29.84.

CRUDE: Benchmark U.S. crude sank 71 cents to $60.06 a barrel in New York. Brent crude, a benchmark for international oil, fell 31 cents to $65.48.

BONDS: U.S. government bond prices rose, tugging the yield on the 10-year Treasury note down to 2.36 percent from 2.38 percent the day before. Bond yields fall when prices rise.

ASIA’S DAY: Japan’s Nikkei 225 inched up 0.1 percent. In China, the Shanghai composite index advanced 0.9 percent, and Hong Kong’s Hang Seng rose 1.4 percent.

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

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March 17, 2026

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As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC